How to Be a Billionaire in 10 Years With No Catch
Everyone realizes a great entrepreneur when they work with one, but most entrepreneurs don’t know what to find in themselves which will drive that perception in others.
Most life-coach gurus, including Tony Robbins, have supplied generic recipes in his book, Unlimited Power. The points are wonderful but can be turned into even simpler and much more actionable by adapting them to the world of the entrepreneur:
Exhibit character. In the dictionary definition, character is said to be “the stable and identifying qualities constructed into an individual’s life which determine his or her response regardless of conditions.” Steve Jobs of Apple had character, and also the people around him understood what he stood for in great times as well as being bad.
Be responsible for your own actions. Thomas Edison made no reasons for ten thousand light failures. I have only found ten thousand ways that won’t work.”
Check your ego at the door (and keep it there). For an entrepreneur, that is starkly clear in the willingness to be trained by outside experts or by your personal team. All of us know a lot of people who won’t listen to any advice from anyone. That’s only hubris, and it doesn’t inspire anyone.
Promote resilience. There’s no shame in becoming knocked down; it’s getting back up that matters. In a startup, pivots and troubles will occur. Learn to bounce back stronger, expect change and educate others to do exactly the same. Dean Kamen, while still struggling against the Segway Human Transporter, holds 440 other device patents.
Get in the habit of asking questions but do not expect easy answers. That includes taking a hard look in the mirror and facing reality. He has over 20,000 stores now.
Leap frog challenges. We’ve all seen the entrepreneur who is fighting to keep the company alive by tackling the day-to-day barrier. Nobody is looking around the corner to view the next hurdle coming up. The successful entrepreneur: he’s always looking ahead, and delegates day to day matters to lieutenants
Drive initiation. Great businesses these days begin with proactive initiation. Visionary examples contain Larry Page and Sergey Brin at Google, who turned a new search technology right into a tool that many of us couldn’t live without. Encourage everyone in the team to think and act creatively. Great ideas may come from anyone at any moment.
Support dissent about issues but boost politeness around individuals. Receptiveness to dissent allows for corrective feedback to unfavorable decision making, inferior and ineffectual startup practices, and insensitivity to team wants and desires.
Build a winning culture. Entrepreneurs drive values, values drive conduct, conduct drives culture, and tradition drives performance. High performance makes new leaders. Here is the self-reinforcing circle of excellence every startup needs for success. Winning company cultures, including Apple’s, are set in the top.
Instruct others “the how.” Instruct them how to do the job and step back and let them do it. Effective entrepreneurs are not afraid to “get their hands dirty” working together with the troops. Genuine entreprenuers arm their staff with insider skill and tactics rather than siloing them in the inner circle
Being an entrepreneur may start with that million dollar idea, but turning that idea into a large startup is all about results. The fastest way to great results requires growing a fantastic team to multiply your productivity. Using the activities described here as a model, take a look in the mirror to see how well you are leading by example.
This is the 10 step process. It’s all you need to be a billionaire in ten years.